Oil prices rose by 1% at the start of trading on Monday after a U.S. statement that it intends to continue attacks on Houthis in Yemen until their attacks on ships cease. The head of the American delegation informed Reuters that the operation could continue for at least a week.
These strikes represent the largest U.S. military operation in the Middle East since Donald Trump became president in January. The Ministry of Health, controlled by the Houthis in Yemen, announced that American airstrikes resulted in at least 53 casualties.
WTI crude oil futures rose by 72 cents or 1.1%, to $67.90 a barrel. Brent crude oil futures declined by 72 cents or 1.02%, to $71.30 a barrel.
